Innovation and Resiliency Drive Dell Technologies' First Quarter Fiscal 2021 Financial Results

ROUND ROCK, Texas, May 28, 2020 — (PRNewswire) —

News summary

  • Dell Technologies effectively navigates COVID-19 environment with innovative products, broad capabilities, flexible supply chain and resilient global workforce
  • First quarter revenue of $21.9 billion
  • Operating income up 28% to $702 million, non-GAAP operating income of $2.2 billion
  • Client Solutions Group revenue up 2% to $11.1 billion; VMware revenue up 12%

Full story
Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2021 first quarter. First quarter revenue was $21.9 billion. During the quarter, the company generated operating income of $702 million, a 28 percent increase over the same period in the prior year, and non-GAAP operating income of $2.2 billion. Net income was $182 million, non-GAAP net income was $1.1 billion and adjusted EBITDA was $2.6 billion. Net cash used in operating activities was $0.8 billion. Diluted earnings per share was $0.19 and non-GAAP diluted earnings per share was $1.34.

"Customers need essential technology now more than ever to put business continuity, remote working and learning plans into practice," said Jeff Clarke, vice chairman and chief operating officer, Dell Technologies. "In Q1, we saw orders with banking and financial services, government, healthcare and life sciences customers up 15 to 20 percent – all to meet immediate needs of their customers, communities and patients. As the world pivots from response to recovery, we'll continue to put our broad capabilities to work to deliver differentiated results for our customers and our company."

First Quarter Fiscal 2021 Financial Results


Three Months Ended




May 1, 2020


May 3, 2019


Change


(in millions, except percentages; unaudited)

Total net revenue

$

21,897



$

21,908



%

Operating income

$

702



$

550



28

%

Net income

$

182



$

329



(45)

%







Non-GAAP net revenue

$

21,945



$

21,990



%

Non-GAAP operating income

$

2,161



$

2,196



(2)

%

Non-GAAP net income

$

1,143



$

1,209



(5)

%

Adjusted EBITDA

$

2,607



$

2,573



1

%


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